Aluminum continues to fall, falling by $25 from Wednesday

2018-04-28 18:01:02

On Thursday, Aluminium continued to fall. After the aluminum opened higher at 1900.5, it oscillated slightly in the session and touched 1904 higher. With the sell-off, aluminum prices fell again and fell to 1842.5 US dollars. It closed at 1860, down $25 from Wednesday. A total of 206,173 contracts were traded throughout the day, an increase of 6,007 contracts compared to Wednesday; the holdings amounted to 425,271 lots, an increase of 12,589 contracts compared to Wednesday; the inventory amounted to 538,050 tons, a decrease of 1,300 tons compared with Wednesday. Following Wednesday's sharp drop in aluminum, Lun Aluminum once again formed a 40-dollar Yinxian on Thursday. The volume and position of aluminum prices continued to increase during the decline, indicating that the short sellerâ€™s active selling was still heavy. From the daily chart, at present, Lun Aluminum has received three negatives and the bullish sentiment has been hit hard. The continuous slump in the short-term has also enabled the effective release of short-term potential energy. On Thursday, LAU fell lower to the top of 1845 in the sideways zone from January 5th to February 9th. Foreign exchange market: In the Asian market, the US dollar rose slightly, and non-US currencies generally fell. The news during the Asian session was very light, focusing on the euro zone's final GDP in the fourth quarter and the U.S. weekly jobless claims data. Eurozone fourth quarter GDP will be announced at 17:00, is expected to increase by 0.2% quarter-on-quarter, an increase of 1.6% year-on-year; the United States is expected to claim early jobless claims fell slightly to 328,000, the data is published at 20:30. However, it is expected that the impact of these two data on the foreign exchange market will be limited. The US dollar index rose slightly, tending to continue to move higher during the day, and is expected to test the 84.80 line and fall back to around 84.40/50. If it can break through 84.80, it is hopeful to test the 85.10 area again and the stronger support will be in the 84 area. Operational recommendations: rebound to lighten up.